How Uncle Sam spends your taxes
After it all gets collected, most taxpayers would like to know where their money gets spent. Here are the many slices of the spending pie.
VIDEO ON MSN MONEY
Everybody keeps blaming social security and its not social securities fault. Social security was born to help supplement working retirees with approx one third of the income they would need to retire. Now comes medicare, medicade, SSI disbility, dependants etc. Now add to the fact that just as many recieving it ain't paid a dime into the system. Yes I can see why its going to hell in a handbasket. Solution is simple again. Go back and make social security originally what it was intended to do in the first place. That is to provide one third of a persons retirement only if he's worked and paid into the system.
Call in the IOUs from the US Treasury and fire Timothy Geitner. This, along with a few other minor refinements, should go a long way towards making Social Security solvent again.
There is no money in the SS trust fund. It only contains IOUs on the US Treasury. Lyndon Johnson took the trust fund and rolled it into the the federal buget in the mid 60's to make it look like he balanced the budget. Politicians have been spending the money ever since. Had it been left out side the budget, our deficit is much higher than the estimated 1.7 trillion this year. Things are much worse than they look.
Stop raiding Social Security period. The gov't is not funding it; just taking from it. A lot of the entitlements for folks who have never put into the fund need to cease! We need to stop giving monies and supplying services to individuals who refuse to follow-up with care. We have to stop just giving people a check. Talk about waste and abuse. I'm sick and tired of seeing folks diagnosed with a mental illness that refuse to take their medications supplied by taxpayers and have contradictory laws telling them they have a right to REFUSE the very medications that can help them. Some are unable to differentiate but not all. However, we continue to supply them a check!!! That's insanity. We pay for lawyers and courts that feed off these rights BUT what about the rights of the taxpayer? You either take the medicine or course of treatment (and get better) or you don't get an automatic check from SSD. There are enough folks out there with legitimate mental illness who really need the care and the resources... SCARCE RESOURCES available.
The trust funds are "off-budget" and treated separately in certain ways from other Federal spending, and other trust funds of the Federal Government. From the U.S. Code:
EXCLUSION OF SOCIAL SECURITY FROM ALL BUDGETS Pub. L. 101-508, title XIII, Sec. 13301(a), Nov. 5, 1990, 104Stat. 1388-623, provided that: Notwithstanding any other provision of law, the receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund shall not be counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of - (1) the budget of the United States Government as submitted by the President, (2) the congressional budget, or (3) the Balanced Budget and Emergency Deficit Control Act of 1985.
The trust funds run surpluses in that the amount paid in by current workers is more than the amount paid out to current beneficiaries. These surpluses are given to the U.S. Treasury (and thus become part of the general federal budget) in exchange for special U.S. government securities, which are deposited into the trust funds. If the trust funds begin running deficits, meaning more in benefits are paid out than contributions paid in, the Social Security Administration is empowered to redeem the securities and use those funds to cover any deficit.
It is the surpluses that are given to the U. S. Treasury that are called "IOUs" by those who wish to mislead you. Those "IOUs" are interest bearing government securities. NOTE: Your bank loans the money from your bank account out, so I guess you could say that your personal bank account is filled with IOUs. Social Security does INVEST in U. S. Treasury securities, just as some of U. S. Citizens invest in U. S. Savings Bonds securities. Those Savings Bonds are interest bearing IOUs with mandatory repayment provisions. IRA and 401K accounts invest your money. Guess your funds are filled with "IOUs". I wonder if those retirement investment accounts have mandatory repayment provisions?
Only elitist Donkeys, who think some are more equal than others, believe it UNEQUAL is FAIR...
If you truely believe that in taxes, it should be that way with all things... Discrimination should be legal... using that logic...
Sorry, but our government is spending (4.47 tillion budget / 308 million people) 14,500 per person or 57,000 per family of 4. This MUST end. This is why government continuesto grow so large. There is no pain for half the population in paying taxes. We have reached the point where those collecting can steal from those that have via voting.
We must end this Donkey party socialism and government run Ponzi schemes.
I think we hould just start right now, and refuse to pass the debt ceiling increase. It is perfectly fine to spend money on socialist, redistributionalist ideas, but the government should not be borrowing 35 cents out of every dollar spent to do so...
This November either we fire another 3000+ Donkey Party people nationwide, or we prepareto file for bankruptcy and the chaos that follows. Gold/Silver are saying the Donkeyswant to continue on Spending. Obama's budget says the samething...
Now on the subject of Obama's constant class warfare... Those in the 35% tac bracket pay 1.2 Trillion in taxes currently. Upping the rate to 39.6% as Mr. Obama wants will generate all of 55.2 Billion in extra tax revenue. The CBO's most recent budget deficit estimate is not 1.72 Trillion. That means we would need to SLASH 1.6 Trillion or so to balance this years budegt. Mr. Obama can start anytime, but he is in campaign mode, not reality mode...
In short Ryan's plan cuts 600 Billion, Obama's with his jobs killing tax increase 450 Billion.... Any way you slice it we still need to slash another TRILLION...
Novermber 2012 cannot get here fast enough....
Copyright © 2013 Microsoft. All rights reserved.